How to obtain Hungary Golden Visa: application process and requirements

11 Benefits of Hungary Golden Visa

1. Travel freedom across Europe. Hungarian residents can travel to other European countries visa-free. Holders of the Hungary Golden Visa can stay in the Schengen Area for up to 90 days within any 180-day period.

2. Moving to Hungary. Golden Visa holders can enter Hungary at any time, even if borders are closed to tourists. Investors and their families can live there permanently or visit occasionally.

Hungary was ranked 14th among the world’s safest countries by the Global Peace Index 2024. It has a growing economy and offers a high standard of living with access to quality healthcare and education. According to the Global Liveability Index 2024, Budapest is ranked 32nd among the 173 cities worldwide.

3. Tax benefits. Hungary has some of the lowest tax rates in Europe. The income tax rate is 15%, and the corporate tax rate is 9%. Hungary has a favourable tax regime for residents and has signed double taxation treaties with many countries, including Canada, the UAE, and the UK. This can provide significant tax relief for international investors.

4. Residence permit for the whole family. Hungary’s Golden Visa allows the inclusion of the investor’s spouse, children, and financially dependent parents in the application, enabling families to relocate together.

5. Work and business opportunities. The Hungary Golden Visa grants investors the right to start a business and work as CEOs of their companies in the country. Some of the rapidly growing and promising industries in Hungary are IT, finance, and tourism.

6. Access to European banks. Hungarian residents can quickly open accounts in Hungarian and other European banks. Usually, they only need their passport and residence permit card.

7. Educational opportunities. Hungary offers a good standard of education with public and private schools. International schools in Budapest provide education in English and other languages. 

Hungarian universities are well-regarded, attracting students worldwide. According to the QS World University Rankings 2024, 11 Hungarian universities are among the top 1,500 globally, including those offering programs in English. Hungarian diplomas are recognised in the EU, the US, and the UK.

8. High-quality healthcare. Hungary has a well-developed healthcare system and is a popular destination for medical tourism. The country offers high-quality medical services at lower costs than many other European countries. Hungary is also famous for its thermal and mineral springs and the services of dentists and plastic surgeons.

9. No residency requirement. Golden Visa investors are not obliged to live in Hungary permanently to maintain their residency status.

10. EU residency for a long time. The Hungary Golden Visa is granted for 10 years and can be extended once for the same period. This is more favourable compared to the Spanish Golden Visa, which must be extended after 3 years, and the Portuguese one, which must be extended every 2 years.

11. Path to EU citizenship. Hungarian permanent residence can be obtained after 3 years of living in the country with the Hungary Golden Visa. After 8 years of living in Hungary with permanent residence, investors and their families may be eligible to apply for Hungarian citizenship, gaining the full rights of EU citizens.

Hungary Golden Visa investment options

Investors can choose one of two options for gaining residency. 

Real estate fund investment — €250,000+. The investment is made in units of real estate funds registered with the Hungarian National Bank. To qualify, the fund must also be listed as a qualified market operator by the Constitution Protection Office. 

At least 40% of the fund’s assets must be invested in residential real estate in Hungary. Investors must hold a share certificate with a minimum value of €250,000, and the investment must be maintained for at least five years.

Donation to higher education — €1,000,000+. The donation is made to a Hungarian institution of higher learning maintained by a public interest trust foundation. This type of investment supports education, scientific research, and creative activities.

If the investor chooses to buy fund units or donate to an educational institution, they must still rent or purchase housing in Hungary to have a registered address required for residency.

Who can apply for Golden Visa in Hungary

The Hungary Golden Visa program is available to non-EU and non-EEA nationals who meet specific criteria.

Main applicant must be over 18 years old with a clean criminal record and a legitimate source of funds for investment. Health insurance coverage is also necessary. 

Applicants must have sufficient funds for travel and living expenses during their stay in the country. Their entrance and stay in Hungary should not threaten the country’s national policy, social security, or public health.

Family members can benefit from the same residency rights as the primary applicant. The visa application can include:

• spouse;
• children under 25;
• financially dependent parents of the main applicant or their spouse.

It is recommended to add parents via the family reunification route after the main applicant obtains their residence permit.

Required documents for Hungary Golden Visa application

To apply for a Hungary Guest Investor Visa followed by the Hungary Golden Visa, the investor must submit the following documents:

• passport valid for at least 12 months;
• two recent passport-sized photographs;
• health insurance valid in Hungary;
• written confirmation of the intention to fulfil the investment condition;
• proof of legitimate source and availability of funds for the chosen investment option;
• police clearance certificate from the applicant’s country of residence;
• bank statements indicating a cash balance;
• CV for each family member over 18;
• marriage and birth certificates, if applicable;
• completed and signed residence permit application form;
• proof of accommodation in Hungary;
• confirmation of investing.

Other pathways to Hungary residence permit

In addition to the Golden Visa, there are several other ways to obtain a Hungary residence permit.

Employment. A residence permit through employment is valid for up to 2 years and can be renewed. Applicants need a job offer from a Hungarian employer and must provide a work contract and proof of qualifications.

EU Blue Card. Highly skilled professionals can apply for this permit, which is valid for up to 4 years and renewable. Applicants need a higher education degree and a job offer that meets specific salary criteria, usually 1.5 times the average gross annual salary in Hungary.

Digital Nomad Visa caters for remote workers employed by companies outside Hungary. It is valid for 1 year and can be renewed. Applicants must show proof of remote employment, sufficient funds, and health insurance. They must also prove a monthly income of at least €3,000.

Entrepreneurship. Entrepreneurs can obtain a residence permit if they open a company in Hungary with a starting capital of at least €7,700.  

Student visa. Enrollment in a recognized Hungarian educational institution grants a student residence permit for the duration of their study program. Applicants must provide an acceptance letter, proof of sufficient funds, and health insurance.

Family reunification. Family members of Hungarian citizens or residents can apply for a residence permit valid for up to 2 years, with the possibility of renewal. Required documents include proof of relationship, accommodation, and sufficient income.

Acquiring permanent residence and citizenship in Hungary after a Golden Visa

After obtaining the Hungary Golden Visa, investors and their families can eventually acquire permanent residence and citizenship.

Permanent residence can be applied for after 3 years of continuous residence in Hungary. The requirements include clean criminal record, sufficient means of subsistence, a place to live in Hungary, and comprehensive health insurance. 

During these 3 years, investors cannot leave Hungary for more than four months in a row. Additionally, they must not spend more than 270 days in total outside the country during this period.

Permanent residence is granted for life, but the ID card must be renewed every 5 years. It offers similar rights to Hungarian citizens, except for voting in national elections.

Applying for Hungarian citizenship is possible after 8 years of living in the country with permanent residence. This means that the total time spent living in Hungary before applying for citizenship would be at least 11 years: 3 years to gain permanent residency and another 8 years to qualify for citizenship.

Applicants must pass a citizenship test, which includes both written and oral parts in the Hungarian language. They also need to prove that they have a clean criminal record, sufficient means of subsistence, and a place to live in Hungary.

Hungarian citizenship grants full rights, including the ability to vote in all elections and the freedom to live and work anywhere in the European Union. Hungarian passport holders enjoy visa-free travel to over 170 countries, including the UK, the US, Australia, Japan, and Singapore.

Everything you need to know before relocating to Hungary

Location and climate. Hungary is a landlocked country in Central Europe, sharing borders with Austria, Slovakia, Ukraine, Romania, Serbia, Croatia, and Slovenia. The climate is continental, with cold winters and hot summers. Winter temperatures can drop below freezing, while summer temperatures often exceed 30°C (86°F).

Language. The official language is Hungarian, or Magyar, which is unique and not closely related to other European languages. Learning basic Hungarian phrases can be helpful, though English is widely spoken in major cities and tourist areas.

Cost of living. Hungary has a lower cost of living compared to many Western European countries. It is estimated to be about twice as low as in Denmark, Norway, and Sweden, and nearly 40% lower than in Malta and Italy. A single person can live on around €1,000 per month in Hungary, whereas in Italy, maintaining a similar lifestyle would cost €1,500.

Life in Budapest, the capital, is more expensive than in smaller towns and rural areas. However, housing costs are still relatively affordable. For example, one square metre in Budapest is roughly 2.5 times cheaper than in Stockholm and 2 times cheaper than in Copenhagen. Housing, food, transportation, and healthcare are all reasonably priced.

Housing. Finding a place to live in Hungary can vary in difficulty depending on the city. In Budapest, there are many options, including apartments and houses for rent. It is common to use real estate agents or online platforms to find accommodation. Rental prices in Budapest are higher than in other parts of the country.

Transportation. Hungary has an extensive public transportation system. In Budapest, buses, trams, and a metro system provide convenient travel options. Trains and buses connect the capital with other cities and towns. Owning a car is also an option, especially for those living outside urban areas.

Culture and lifestyle. Hungary has an extensive history and is home to many festivals, museums, and historical sites. The lifestyle is generally relaxed, with a strong focus on family and social life. Hungarians are known for their hospitality and enjoy traditional food, music, and dance.

Food and cuisine. Hungarian cuisine is hearty and flavorful, with popular dishes like goulash, paprikash, and lángos. Markets and restaurants offer a wide variety of foods. Hungarian wines are also well-known and worth trying.

Key takeaways about Hungarian Golden Visa

1. The Hungary Golden Visa program allows foreign investors and their families to reside in Hungary by investing in the country’s economy.
2. The Hungary Golden Visa allows visa‑free travel across the Schengen Area.
3. Investors can choose from two investment options: real estate funds worth at least €250,000 or a €1,000,000 donation to higher education.
4. The visa includes the investor’s spouse, children under 25, and financially dependent parents.
5. The Hungary Golden Visa is valid for 10 years and can be extended for another 10 years.
6. Permanent residence is possible after 3 years of continuously living in Hungary, and citizenship after 8 years with permanent residence.